How to tell if Joe Biden is doing a good job

Plus: Fear of a fungal planet. [Bloomberg]( Follow Us [Get the newsletter]( This is Bloomberg Opinion Today, a 360-degree evaluation of Bloomberg Opinion’s opinions. [Sign up here](. Today’s Agenda - Ten [charts](. - One [balloon](. - Lots of [fungi](. - Three [trees](. SOTU Scaries [Performance review season]( can be [fear-inducing](. It’s natural to sweat everything. Did my boss notice me sleeping at my desk the other day? Were the flip-flops I wore to work in August appropriate office attire? Can my colleagues ever forgive me for that time I microwaved leftover tilapia for lunch? It was once, and I regret it deeply. But 360-degree evaluations are light work compared to appraising the person we hired to head up the United States of America. Formal reviews only take place during [election season](. But for President Joe Biden, his upcoming State of the Union Address is basically a self-evaluation (for others, it’s [a drinking game](, but I digress). Although he will likely revisit his key accomplishments, from the Inflation Reduction Act to the American Rescue Plan Act, it’s hard to take [the true measure of any president]( in a speech [riddled with idioms and superlatives](. In consideration of that, Elaine He teamed up with Bloomberg Opinion columnists to [chart 10 performance metrics]( to help Americans separate fact from [malarkey](. Karl Smith notes Biden is on track to becoming the [greatest jobs-producing president]( of all time. Wages, on the other hand, look more miserable than [Ben Affleck at the Grammys](: Biden has presided over an economy that’s suffering the [worst cost-of-living crisis]( in four decades, though Matthew Winkler points to market signals the fever is breaking. The upshot is that household wealth continues to shine after [hitting a fresh record of $150 trillion]( at the end of Biden’s first year in office, Alexis Leondis notes. As for [the stock market](, Jonathan Levin writes it isn’t as bad as some say, with [the S&P 500 up 5.4%]( in the first two years of Biden’s term. To fully understand Biden’s impact on [income inequality](, [health care](, [crime](, [immigration](, [the environment]( and more, you’ll have to [read the whole thing]( — and [that’s not hyperbole](. We Don’t Belong in Balloons A few years ago, Felicity Jones and Eddie Redmayne starred in a movie called “The Aeronauts.” The film was forgettable, but one quote from [the trailer]( was not: “[Women don’t belong in balloons!](” one woman tells another woman (who wants to belong in a balloon). It’s absurd, but the whole China-spy-balloon saga is enough to make you think “The Aeronauts” was on to something: Does anything belong in a balloon, really? Bluster aside, China may be regretting its gaseous adventure, given how previously warming relations with the US have gone suddenly cold. Minxin Pei suggests Xi Jinping should do whatever he can to reset, starting with [a formal investigation]( into why his government didn’t communicate better with the US and Canada. China claims its balloon was just a climate science experiment gone awry, an excuse Minxin and most other humans call “scarcely believable.” Regardless of its true purposes, Liam Denning warns the episode diminishes any hope Washington had for [meaningful climate cooperation with Beijing](. China, a self-proclaimed “near-Arctic nation,” has long wanted to expand its influence on the “Polar Silk Road.” Its now-busted balloon undermined that goal. As tensions mount, Bloomberg’s editorial board writes [the US is smart to try to calm tempers](. Hot air fills balloons, after all, and what good have those things ever done? Killer Fungi In case you missed it, Pedro Pascal got [called for jury duty]( to host SNL this weekend, [a nice reprieve]( from his doom-and-gloom act on “The Last of Us.” The HBO series tracks Pascal’s character Joel as he travels through a post-apocalyptic America, fighting off [grotesque mushroom zombies]( infected with the fungus cordyceps. It’s both [more fun]( and more repulsive than it sounds. Raising the fear factor is the fact that cordyceps is [a real-life fungus](. Naturally, this has led people to [wonder if mushrooms could actually end humanity](, to which Lisa Jarvis essentially says, “Kind of.” Cordyceps can’t infect humans, but a different type of fungal infection could yet cause a pandemic. The more the planet warms, the likelier it is that some fungus will evolve to overcome the human body’s thermal defenses. Many fungi already resist treatment, “a harbinger of a scary future,” microbiologist Arturo Casadevall told Lisa. [Read the whole scary thing](. Telltale Charts Go to your nearest window and count how many trees are outside. If there are fewer than three, then Lara Williams may have a bone to pick with your city. By [planting more trees](, urban areas could stop their blocks from turning into sweltering ovens (and possibly prevent a fungal invasion). “Increasing tree canopy cover to 30% of the city could reduce premature summer deaths in cities by about 40%,” she writes. One of Wall Street’s favorite pastimes is to worry about the economic agendas of Latin America’s left-leaning politicians, Eduardo Porter writes. But you can’t deny that left-wing governments in Chile, Argentina, Brazil and Bolivia are [actually pretty good at steering their economies](: Further Reading There are not enough nurses because [there are not enough teachers](. — Bloomberg’s editorial board The Rothschilds want to go private. But [is exclusivity the best policy](?  — Chris Hughes You thought China’s Evergrande crisis was bad? [India’s Adani is way worse](. — Shuli Ren Walmart and Amazon might be raising wages now, but [their bets on automation]( could be bad news for workers. — Leticia Miranda Donald Trump has been forced to disown [his most resounding policy success](. — Matthew Yglesias Violent Americans are [arming themselves with stolen guns](. — Francis Wilkinson [How to talk to ChatGPT](, Tyler Cowen-style — Tyler Cowen Living in a house you hate with a mortgage you love? [Here’s what to do](. — Alexis Leondis ICYMI The [earthquake death toll]( in Turkey and Syria rose. [Carlyle's new CEO]( wasn't the first pick. Your cat is boosting [quarterly earnings](. NYC's [office conversion king]( is on a roll. Elon Musk's [back hurts](. Kickers [Subway sandwiches]( are getting a glow-up. Beyoncé got [stuck in traffic](. [A 14-dog conga line]( broke a world record. [A Henry VIII-era pendant]( was found using a metal detector. (h/t Ellen Kominers) You need 13 years to [afford a down payment]( on a home in New York. Notes:  Please send 13 years, 14 dogs and feedback to Jessica Karl at jkarl9@bloomberg.net. [Sign up here]( and follow us on [Instagram](, [TikTok](, [Twitter]( and [Facebook](. Like getting this newsletter? [Subscribe to Bloomberg.com]( for unlimited access to trusted, data-driven journalism and subscriber-only insights. Before it’s here, it’s on the Bloomberg Terminal. Find out more about how the Terminal delivers information and analysis that financial professionals can’t find anywhere else. [Learn more](. You received this message because you are subscribed to Bloomberg's Bloomberg Opinion Today newsletter. [Unsubscribe]( | [Bloomberg.com]( | [Contact Us]( [Ads Powered By Liveintent]( | [Ad Choices]( Bloomberg L.P. 731 Lexington, New York, NY, 10022